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'ZiL Peninsula' Development Planned

The city is considering a major development project covering 470 hectares around the ZiL automobile factory.

The Third Transportation Ring, Prospekt Andropova and the Moscow River border the property, which has been tentatively labeled ZiL Peninsula.

The project, which would be completed by 2025, would include 2.1 million square meters of offices, shopping, sports facilities, medical establishments and educational institutions, about 1.5 million square meters of living space and 858,600 square meters of manufacturing space.

It's a unique project for the city, said the administration's construction chief, Marat Khusnullin.

"Everything we are struggling to accomplish at the citywide level will be solved in one project," he said.

Officials estimate that the project will require 152 billion rubles in finanincing, no more than 43 billion rubles of which would come from the city via infrastructure contributions. Tenders will be conducted for investors in individual parts of the project. 

(MT)

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